KUALA LUMPUR: Small and Medium Enterprises (SMEs) are encouraged to apply for financing facilities under two guarantee schemes, namely, the Services Sector Guarantee Scheme (SSGS) and the Flood Relief Loan Guarantee Scheme (FRLGS).
The SSGS is for SMEs in the services sector which is expected to contribute more towards Malaysia’s International trade, while the FRLGS is open to all SMEs affected by the floods.
The SSGC enables SMEs to have access to working capital expenses financing at a minumum of RM100,000 and up to RM5 million per company.
A total guarantee of RM5 billion is allocated for this purpose and the scheme is managed by Syarikat Jaminan Perbiayaan Perniagaan (SJPP), a company under the Minister of Finance, Incorporated.
The FRLGS is meant to help revive SME businesses that have been affected by the floods in the districts defined by National Security Council as flood disaster areas.
In a statement, SJPP principal officer and director Dr Nungsari Ahmad Radhi said the guarantees would assist SMEs in securing facilities from financial institutions to help them expanding their businesses.
“Those who are eligible and interested can submit their applications through the participating financial institutions, as both schemes have been launched,” he added. — Bernama